Norway: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Norway

The Norwegian flat-rolled steel products market declined sharply to $X in 2021, with a decrease of -86.5% against the previous year. In general, consumption recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Flat-Rolled Steel Products Production in Norway

In value terms, flat-rolled steel products production reduced sharply to $X in 2021 estimated in export price. In general, production recorded a dramatic decrease. The most prominent rate of growth was recorded in 2015 with an increase of 168%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from Norway

In 2021, shipments abroad of flat-rolled products of iron or non-alloy steel increased by 429% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, exports, however, saw a deep reduction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports surged to $X in 2021. Over the period under review, exports, however, saw a deep slump. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for flat-rolled steel products exports from Norway, accounting for a 64% share of total exports. Moreover, flat-rolled steel products exports to the Netherlands exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by Poland (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-27.5% per year) and Poland (+52.7% per year).

In value terms, South Korea ($X) emerged as the key foreign market for flat-rolled products of iron or non-alloy steel exports from Norway, comprising 53% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea amounted to +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+7.1% per year) and China (-24.8% per year).

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, with an increase of 4.2% against the previous year. Over the period under review, the export price recorded a notable increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 208% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Norway

After three years of decline, purchases abroad of flat-rolled products of iron or non-alloy steel increased by 18% to X tons in 2021. Overall, imports, however, saw a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of 381%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel products imports soared to $X in 2021. Over the period under review, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2017 when imports increased by 580%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Singapore (X tons) and Germany (X tons) were the main suppliers of flat-rolled steel products imports to Norway, with a combined 50% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +204.2%), while purchases for the other leaders experienced a decline.

In value terms, the largest flat-rolled steel products suppliers to Norway were China ($X), Singapore ($X) and Sweden ($X), together comprising 68% of total imports.

Singapore, with a CAGR of +125.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the import price showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 58%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :